DSV Q3 2023 Financial Performance and NEOM Joint Venture Update
Solutions
(DKKm)
Revenue
Q3 2023
Q3 2022
Growth*
9M 2023
9M 2022
Growth*
5,538
5,841
(0.8%)
17,061
18,185
(3.4%)
Gross profit
2,381
2,325
7.6%
7,039
6,971
4.0%
EBIT
Gross margin
Management commentary
Lower activity levels, mainly due to
weak demand within retail and the
industrial sectors. Momentum improved
in Q3-23.
Strong gross margin, supported by
continued consolidation into large and
implementation of warehouse
automation.
584
613
(0.1%)
1,745
2,155
(16.9%)
efficient warehouses and
*) Growth rates are in constant currencies.
Conversion ratio
Operating margin
43.0%
39.8%
40.6% 40.2%
37.7%
26.4%
25.8%
10.5%
10.4% 10.5%
23.3% 24.0%
24.5%
9.7%
8.8%
Q3-22
Q4-22 Q1-23 Q2-23 Q3-23
Q3-22
Q4-22 Q1-23 Q2-23 Q3-23
Q3-22 Q4-22 Q1-23 Q2-23 Q3-23
•
The cost base was impacted by
general cost inflation and expansion of
the warehouse capacity.
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